Sinking feeling about the British economy
With rising food and fuel prices also hitting discretionary spending, it doesn't require a rocket scientist to reach the conclusion that Britain faces minimal economic growth in the next two years, and there are quite a few City economists who reckon that our chances of facing an outright recession are no better than America's.
I think it does require a rocket scientist these days.
The Recession That Wasn't
Simply put, the recessionistas—to borrow a classic Kudlow zinger—are running out of time with both monetary and fiscal stimulus (bleh!) kicking in gear and the credit markets on the mend.
Personal Income increased 0.3% in February; Spending increased 0.8%
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From the BEA: Personal Income and Outlays for February:
*Personal income increased $66.5 billion (0.3 percent at a monthly rate) in
February*, according t...
56 minutes ago
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